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To: ztect who wrote (1104)8/17/1998 9:12:00 PM
From: Sai P. yandamuri  Read Replies (1) of 40688
 
ztect, In my opinion, Today's action is more of a short covering than of a new buying. Most of the buyers were small guys such as myself.Shorts become nervous when a major launch date is nearing, in this case Phase II release. As many pointed out on this thread, NOTHING has changed since last week from FUNDAMENTALS standpoint.
This has been pattern atleast among the BB issues I have been following. Infact, WINR had a similar runup from 40 cents to 95 cents in the past week and is settling in 70cents+ range. Usually these types of runs will last for 3 or 4 trading days before any substantial profit-taking or another wave of short selling takes place. But again, My approach of playing BB issues is entirely different from that of longterm investors such as yourself, Mr.Patience and others.
I am believing stock will have some resistance at $2 and if it breaks it then IMO SHORTs will get SQUEEZED and we may see much higher prices.
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